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Macrotech Developers sells properties worth Rs 12,064 crore in FY23

Realty firm Macrotech Developers' sales bookings rose 34 per cent to a record Rs 12,064 crore in the last fiscal, on better demand despite rise in interest rates on home loans. Mumbai-based Macrotech Developers, which sells homes under the Lodha brand, is one of the leading real estate firms in the country.

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Macrotech Developers sells properties worth Rs 12,064 crore in FY23

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  1. Macrotech Developers sells properties worth Rs 12,064 crore in FY23 For property price ranges

  2. Realty firm Macrotech Developers' sales bookings rose 34 per cent to a record Rs 12,064 crore in the last fiscal, on better demand despite rise in interest rates on home loans. • Mumbai-based Macrotech Developers, which sells homes under the Lodha brand, is one of the leading real estate firms in the country. • In a regulatory filing, Macrotech Developers said it has delivered a strong pre-sales momentum with sales bookings of Rs 3,025 crore in the fourth quarter of last fiscal and Rs 12,064 crore for 2022-23 fiscal. • The company said it has surpassed the full-year guidance of Rs 11,500 crore. • The collections of money from customers stood at Rs 10,606 crore for FY23, up 23 per cent YoY (year-on-year). For property price ranges

  3. Net debt has further reduced to Rs 7,071 crore, showing a decline of Rs 2,229 crore for the year. • Abhishek Lodha, MD & CEO, Macrotech Developers, said the company has achieved yet another quarter of strong performance enabling us to surpass its annual guidance. • "The icing on the cake is that this has happened in the face of one of the fastest-ever increase in interest rates," he said. • With a high visibility of interest rate hike cycle pausing now and a probable cycling down in the second half of 2023-24, Lodha said the industry is poised to continue seeing demand acceleration for quality tier-1 branded homes. For property price ranges

  4. The on-ground demand fundamentals driven by improving affordability, consistent income growth, and above all consumer's desire to upgrade their lifestyle have continued to strengthen," he said. • Lodha said the company continues to remain the preferred partner for various landowners across micro-markets for JDA (joint development agreements) partnerships. • The company added 12 projects in FY23. This has a sales potential of around 14 million square feet of about Rs 19,800 crore. • Macrotech has delivered more than 89 million square feet of real estate and is currently developing around 100 million square feet under its ongoing and planned portfolio. • The Group has approximately 4,400 acres of land beyond its ongoing and planned portfolio which will be utilized in developing further residential, commercial and industrial & logistics spaces. For property price ranges

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